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Peugeot Mulls Joint Venture

PSA Peugeot Citroen announced that discussions are at an advanced stage with partner Iran Khodro Industrial Group, a leading Iranian car producer, over opening a new auto venture in Iran after a diplomatic breakthrough lifted sanctions against the country. An accord reached in Vienna on July 14 between the western powers and Iran is going to lead to significant progress in the French company’s plans, according to Jean-Christophe Quemard, chief of Peugeot Africa & Middle East. A previous partnership between PSA Peugeot Citroen and Iran Khodro involved reassembling older Peugeot models produced in European factories. The new venture in Iran would include car manufacturing using the latest architectures and engines from the French Group. Quemard said this project will deliver a generational leap, INAUTONEWS reported.